[Noisebridge-discuss] Bringing Down the Credit Bureaus

[Brian Molnar]

On Fri, Jan 8, 2010 at 5:05 PM, Sai Emrys <saizai at gmail.com> wrote:

> I think it's a major mistake to think that no information equals good
> information.
>
> No info is no info, period. Maybe either person stopped using the
> site, the loan was mooted, an email was missed, whatever.
>

But this is not "no info". The information here is how long you've had an
account without any negative reports made against it. This data is in fact
VERY important to potential lenders. This is exactly what is reported by the
existing credit bureaus that establishes whether you have good credit as
opposed to no credit at all.

If I've had a home mortgage since 1985 with no missed payments, this makes
my credit history better than had I not had the mortgage. Even though there
aren't 290 reports with the credit bureaus saying I've made each month's
payment on time, this still enhances my credit worthiness.

This system would be no different in that regard. And moreover, adding a
mechanism that easily lets them add explicit positive data only enhances the
value, IMHO.

- Brian
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